Strategic Philanthropy Project: Eli Lilly
Wylie Schweizer
Indiana University East
Eli Lilly and Company has been in business for 135 years. It was founded on May10, 1876 by Colonel Eli Lilly in Indianapolis, Indiana. It is a global research-based company. Lilly’s vision is to make a significant contribution to humanity by improving global health in the 21st century.
At Eli Lilly corporate responsibility is defined as the comprehensive efforts we undertake to help address a specific set of societal issues (Eli Lilly & Compnay, 2015). The Eli Lilly and Company Foundation is a tax-exempt private foundation established by the company in 1968. The Foundation awards cash grants for philanthropic initiatives aligned with the company's
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The geographic focus is Indiana, the site of Lilly’s corporate headquarters and largest R&D footprint. They have two primary areas of focus: improve student performance in science. Their primary commitment is in support of the Indiana Science Initiative (ISI). The ISI is implementing an inquiry-based hands-on curriculum in K-12 classrooms. This initiative, which includes professional development for teachers, is designed to excite children about the wonders of science and foster innovative, creative thinking. Also, to improve educational outcomes for underserved …show more content…
To further these traditions, the Foundation offers Lilly employees and retirees the opportunity to enhance their charitable giving within their communities by making available the following cash grant programs. Lilly Employee Matching Gifts Programs allow Lilly employees around the world to help determine how the Foundation will spend a portion of its philanthropic resources. Through the U.S. Matching Gifts Program, the Lilly Foundation assists many qualified U.S.-based, tax-exempt public charities by matching the gifts of U.S. employees and retirees to qualified educational institutions, cultural organizations and specific healthcare organizations. Additionally, the Foundation matches employee and retiree gifts to support human services organizations through an annual United Way
With wonderful learning opportunities, a team of sharp and intelligent classmates and teachers, and specialized equipment, the Governor’s School at Innovation Park is the ultimate dream of all determined math/science devotees. With my natural curiosity for mathematics and science and eagerness to take on challenging ideas, I can collaborate with the team at Governor’s School to develop our wide spectrum of ideas and abilities into a highly sophisticated product.
An individual’s intellectual curiosity to gain knowledge of the unanswered questions becomes a catalyst for the advancement of a society. Mercer University’s undergraduate student research program challenges a student to discover the unknown and sets a foundation for growth in critical thinking. Unlike any other colleges, Mercer University provides opportunities to turn an imagination into a reality that benefits the lives of the people. Through the research program, I would like to contribute my passion in serving others in need by discovering ways to find a cure for childhood cancer and creating innovative ideas to help the lives affected by cancer.
Duane Windsor, via the aforementioned article regarding the future of social responsibility, purports “there are three emerging alternatives or competitors to responsibility: (1) an economic conception of responsibility; (2) global corporate citizenship; and (3) stakeholder management practices (pg. 225).” Windsor first provides a historical reflection of social responsibility beginning in the Progressive Era through the twentieth century and concludes with predictions for the future of corporate social responsibility. Corporate social responsibility, although not widely discussed or defined until post World War II, can be dated back to Ancient Rome as citizens exhibited a sense of civic responsibility. Andrew Carnegie, a man now compared to modern business tycoons/philanthropists such as Warren Buffett and Bill Gates, published this concept in the 19th century. Windsor does note, however, Carnegie’s philanthropic acts and published views followed his extensive success and wealth as a business mogul. Despite early literature discussing the importance of businesses responsibility to societal success rather than solely on shareholder profits, Windsor shares his interpretation of “anti-responsibility trends” in recent literature. He emphasizes, throughout this article, a concern regarding “wealth-oriented practices” dominating the future of corporate social responsibility. Windsor reviews prominent corporate social responsibility theorists who all contributed greatly to the distinctions between responsibility and responsiveness businesses have to ...
Threat of new entrants is relatively high. Companies forming alliances are potential rivals. Even if earlier such company was not considered to be a threat, after merging with some research and development company or forming alliance with another pharmaceutical company it would become a rival to Eli Lilly. The threat is however weakened by significant research and development costs necessary to successfully enter the business. Eli Lilly’s focus on a relatively narrow market of sedatives and antidepressants weakens the threat of new entrants, but other products that form lesser part of company’s sales such as insulin and others are exposed to high threat of new entrants. The need of obtaining certificates and licenses also weakens the threat of new entrants. Discussed above leads to the conclusion that threat of new entrants is medium.
Grady Memorial Hospital is a nonprofit organization. It is the largest hospital in Atlanta, Ga.
Lilly Ledbetter Act is a law signed by congress on January 29,2009, that restored works protection on pay discrimination. Lilly Ledbetter Fair Pay Act allows individuals who face paying discrimination rectification under federal government of laws. It also helps women fight equal paying on discrimination on the paycheck of work. Presidential Obama passed the Lilly Ledbetter Act in 2014. After the Lilly Ledbetter Act passed, personally I feel women help in a workplace because women have the power to stand for their rights, changed the society, and right to have equal pay. (Fratti, Karen)
Founded in 1886 by introducing medicinal plasters and antiseptic surgical dressings, Johnson & Johnson has grown to be one of the leading health care products company in the world. In its extensive history of over 125 years Johnson & Johnson’s product mix vary from pharmaceutical, personal care products, medical devices and diagnostics with the largest being pharmaceuticals.
Michael, S.et al. (2008). Prospects for improving K-12 science education from the federal level. Journal of Education 69(9): 677-683.
Waldman, D., Kenett, R. S. and Zilberg, T. 2010. Corporate Social Responsibility: What it really is, Why it’s so important, and How it should be managed. School of Global Management and Leadership, Arizona State University.
...exa products, the company faces numerous market challenges related to changing demographics, intensifying competition, industry consolidation, regulatory pressures and healthcare industry cost constraints. It is recommended that Lilly diversify its product portfolio, cautiously begin acquiring small firms, and work to change its organizational culture to encourage flexibility and organization-wide learning.
Many laws have been put into place to make sure corporations act ethically, so they do not harm people or the environment. Corporations have a social responsibility to follow these laws and various other ethical actions; Johnson & Johnson, considered to be one of the most admirable companies according to Fortune, is one company that included their corporate social responsibilities in their code of ethics. Their code of ethics states that executive officers cannot financially benefit from unethical transactions or that their management must be competent and ethical (Code of Business Conduct, 2015). It is important for corporations to act ethically and hold up to their social responsibility, especially within the workplace; ethics are especially
Corporate Social Responsibility, often used interchangeably with corporate ethics, refers to the initiatives taken to assess or evaluate the business’ impact on its external environment. The term mostly applies to contributory efforts initiated by a company that go beyond the scope of regulatory framework it is subject to. Companies engaged in Corporate Social Responsibility programs invest in activities that may not necessarily benefit the company’s profitability in the short-run but have longer term implications such as society’s welfare or a positive impact on the environment.
Financial being the first component of CSR is often the major factor in a company’s consideration of ethical standards. The main goal of any business is to keep its costs low and to earn a profit. Financial responsibilities in regards to CSR means that society expects that a corporation will produce needed goods and services that are desired by customers and sell those goods and services at a reasonable price while still earning a profit. The organization strives to be efficient and profitable along with keeping the best interest of the shareholders in mind (Barnett).
A company has an economic obligation. It must earn a favorable return for its stockholders in the restrictions of the law. But, corporate social responsibility means that organizations have also ethical and societal responsibilities that go past their economic responsibilities. CSR needs organizations to develop their documentations of their responsibilities to include other stakeholders such as workers, customers, suppliers, local societies, state governments, international organizations, etc. Ethics could be seen as a fundamental component of individual and group activities at the heart of organizations’ errands.
There are hundreds of definitions of corporate social responsibility, or CSR. The one we think says it the best comes from the International Organization for Standardization’s Guidance Standard on Social Responsibility, ISO 26000, published in 2010. It says: